Property Description

Welcome to this spacious 4-family in University City within walking distance of Heman Park, the bustling Delmar Loop, and just 1.5 miles from Washington University! Each unit features two bedrooms, one bathroom, a living room with decorative fireplace, eat-in kitchen, hardwood floors, ceramic tile in the bathrooms, and lots of light. Existing rents are $760 (longtime tenant), $835, $845, and $895 resulting in a gross annual income of $40,020. Less annual operating expenses of $14,579 that's an NOI of $25,441 - a 7.59% cap at asking price. It's fully occupied so there are no showings without an accepted offer, but videos of the exterior and basement are available for your review. Improvements since acquisition in 2018: new architectural shingle roof, boots, and gutters; central air added to three units; two new electric panels; W/D hookups added in basement; some new appliances; three units updated with refinished floors, updated kitchen hardware and counters, and more. See addendum for more detail. Stacks are PVC. Two furnaces are located in the units rather than the basement. The residential building is in Zone X (500-Year). All but one corner of the detached garage is in Zone AE; see addendum for more detail. Seller's lender does not require flood insurance but lenders vary, so buyers should check with their loan officer.

Property Features

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